Discounted Cash Flow (DCF) Analysis Levered
CTT - Correios De Portugal, S.A. (CTT.LS)
3.355 €
+0.01 (+0.15%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 693.81 | 717.34 | 717.49 | 813.50 | 862.94 | 912.28 | 964.44 | 1,019.58 | 1,077.88 | 1,139.51 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | - | - | - | - | - | - | - | - | - | - |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | 0.51 | 1.11 | -37.83 | -31.12 | -33.88 | -23.35 | -24.68 | -26.09 | -27.58 | -29.16 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | -23.35 | -24.68 | -26.09 | -27.58 | -29.16 |
Weighted Average Cost Of Capital
Share price | $ 3.355 |
---|---|
Beta | 1.103 |
Diluted Shares Outstanding | 150 |
Cost of Debt | |
Tax Rate | 22.06 |
After-tax Cost of Debt | 0.25% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.988 |
Total Debt | 2,886.86 |
Total Equity | 503.25 |
Total Capital | 3,390.11 |
Debt Weighting | 85.16 |
Equity Weighting | 14.84 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 693.81 | 717.34 | 717.49 | 813.50 | 862.94 | 912.28 | 964.44 | 1,019.58 | 1,077.88 | 1,139.51 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure | 0.51 | 1.11 | -37.83 | -31.12 | -33.88 | -23.35 | -24.68 | -26.09 | -27.58 | -29.16 |
Free Cash Flow | - | - | - | - | - | -23.35 | -24.68 | -26.09 | -27.58 | -29.16 |
WACC | ||||||||||
PV LFCF | -21.29 | -22.16 | -23.07 | -24.02 | -25 | |||||
SUM PV LFCF | -124.78 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 1.55 |
Free cash flow (t + 1) | -29.74 |
Terminal Value | 6,609.86 |
Present Value of Terminal Value | 6,120.58 |
Intrinsic Value
Enterprise Value | 5,995.80 |
---|---|
Net Debt | 2,430.39 |
Equity Value | 3,565.41 |
Shares Outstanding | 150 |
Equity Value Per Share | 23.77 |